Cant get a mortgage !!

insain

Hi all.

I have tried for years and years to buy a house for myself and small family.
My wife and me have both worked all our lives in the area that we live.

Everytime I aply for a morgage I get refused. I think it is because of I county court jujment that I had a couple of years ago. I paid to get my credit file and that of my wifes. Her credit score was Very good and mine was average.
I even got refused by northn Rock who aparantly accept anyone lol.. they said I didnt earn enough or something like that.

To make it even harder to get a mortgage I whent self eployed last year lol..
I run a design and hosting company.

I am desperate to get a house for my family. Does anyone know anyway I could get a mortgage? Its driving me nuts having to pay £550 a month to a landlord.

MortgageMamma

Hi insain

You need to use the services of a professional mortgage broker.

Different lenders have different criteria, for example northern rock may want a years trading accounts

You may also be looking for more money than a particular lender is willing to advance. they all work of maximum lendings multiples/affordablilty

If you speak to a mortgage adviser, one that has access to the whole of market, they will assess your icnome, credit score, deposit etc etc and come up with the right solution for you

MM

insain

Hi, thanks for your reply.
I did try an independent broker but to be honest I think he really was just looking after his best interest. Some of his advice was awefull and he didnt manage to get us a mortgage.

JoeK_3

insain wrote: »

Hi, thanks for your reply.
I did try an independent broker but to be honest I think he really was just looking after his best interest. Some of his advice was awefull and he didnt manage to get us a mortgage.

The good news is that there are also some good mortgage broker.

Post us both your earnings, property value and any deposit that you might have.

JoeK

insain

Hi, tyhanks for the reply.

Im lokking to buy a house for £150k

My business has only been trading 12 months, 6 of which I was in hospital so not much income for the year.. prob around 22k from the business.

Total income last year then would be

22k from business
15k Wifes wadges

6k from other sources.

herbiesjp

And what kind of deposit do you have to put down?

insain

erm as close to Zero as possible lol. I would have to raise the deposit so the lower the better to be honest.

MonkeySaving?

insain wrote: »

15k Wifes wadges

Thats alot of "wadges" !!:rotfl:

MortgageMamma

If you could raise a 5% deposit and your credit was ok you could self certify with one lender I know of, but dont expect rock bottom rates

insain

MortgageMamma wrote: »

If you could raise a 5% deposit and your credit was ok you could self certify with one lender I know of, but dont expect rock bottom rates

I think I could raise 5% but I really doubt I would get the morgate to be honest... I did manage to get acredit card a few weeks ago though so my credit cant be to bad?

JoeK_3

insain wrote: »

I think I could raise 5% but I really doubt I would get the morgate to be honest... I did manage to get acredit card a few weeks ago though so my credit cant be to bad?

You stand the best chance with a whole of market mortgage broker as all uk lenders will be considered to suit your circumstances.

JoeK